VOL. XLVI

No 12

24-March-2003

BAHRAIN

Citibank Temporarily Shifts Billions Of Dollars In Offshore Assets Out of Bahrain

Citibank Bahrain, which is a subsidiary of Citigroup, temporarily shifted billions of dollars in offshore assets out of Bahrain in the fourth quarter of last year due to precautionary measures taken by its New York headquarters in view of the uncertainties surrounding the Middle East concerning Iraq, announced the Bahrain Monetary Agency (BMA) on 16 March. With war conditions...